Aspen Technology, Inc. (NASDAQ:AZPN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $248.40.

Several research analysts recently commented on AZPN shares. Bank of America raised their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Robert W. Baird increased their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their target price on shares of Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Finally, Loop Capital increased their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Aspen Technology Stock Up 1.7 %

AZPN stock opened at $237.59 on Tuesday. The company has a market cap of $15.03 billion, a price-to-earnings ratio of -1,484.94, a PEG ratio of 2.74 and a beta of 0.76. The business has a fifty day simple moving average of $233.16 and a 200-day simple moving average of $212.94. Aspen Technology has a 52 week low of $162.26 and a 52 week high of $244.85.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The company had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. During the same period last year, the business posted $1.87 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Aspen Technology will post 6.53 earnings per share for the current fiscal year.

Insider Transactions at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the sale, the director now directly owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Aspen Technology

A number of institutional investors have recently made changes to their positions in the business. Tortoise Investment Management LLC grew its position in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Mather Group LLC. grew its holdings in Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after acquiring an additional 130 shares in the last quarter. Crewe Advisors LLC increased its position in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Aspen Technology during the second quarter worth about $37,000. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Company Profile

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company’s solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.